Potential Continuation of the Downtrend Despite Bullish Signs
AUD/JPY Analysis: Sharp Volatility with Potential Continuation of the Downtrend Despite Bullish Signs
order blocks:
AUDJPY
AUD/JPY has been showing some promising signs of a bullish run lately, but its sharp, unpredictable moves up and down have left many of us confused.
In my analysis on the 24-minute (24M) timeframe, I looked at even lower timeframes to find more precise entry points. The Fibonacci retracement levels indicated the golden zone between 0.71 and 0.75, and the price moved right into that area. I also used different Fibonacci levels to confirm the potential outcome.
However, despite the temporary bullish signals, I believe we might see a continuation of the downtrend for now. There are also several order blocks on lower timeframes that are providing support, so it's important to watch what happens next. These volatile movements suggest further downside pressure before any sustained upward move.
These are my thoughts—hope you enjoyed the read.
order blocks:
AUDJPY AUD/JPY has been showing some promising signs of a bullish run lately, but its sharp, unpredictable moves up and down have left many of us confused.
In my analysis on the 24-minute (24M) timeframe, I looked at even lower timeframes to find more precise entry points. The Fibonacci retracement levels indicated the golden zone between 0.71 and 0.75, and the price moved right into that area. I also used different Fibonacci levels to confirm the potential outcome.
However, despite the temporary bullish signals, I believe we might see a continuation of the downtrend for now. There are also several order blocks on lower timeframes that are providing support, so it's important to watch what happens next. These volatile movements suggest further downside pressure before any sustained upward move.
These are my thoughts—hope you enjoyed the read.
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